Gaming markets saw a recovery, following the BTC and ETH rallies in the past week. P2E gaming is changing, with old games trying to reinvent their model and new ones launching. Most in-game tokens remain subdued, but other assets are having a revival. Polygon (MATIC) was one of the leaders this week, as the MATIC token went above $0.91.
Top Events of the Week
- Charms and Runes to Become Axie Infinity NFT
- Sunflower Land Offers Farm Expansion
- Vulcan Forged Offers Metaverse as a Service
- Crabada Daily Lucky Draw Returns
- ETH 2.0 Merge Date Set
Leading Games by Number of Users
Two new Solana-based games are among the most visited. At the top, WAX games are still holding on, as more of their activity is recorded on the high-capacity blockchain. Axie Infinity is still in the top 10, but fell out of the top 5 list.
P2E Token Price Action
Weekly Leader: Smooth Love Potion (SLP), +12.25%% to $0.004. SLP is still near its lowest level, hence the potential for unusual rallies. In the past week, the Summer Breeding Event on Axie Infinity burned more SLP than was generated within the game.
Unlike the previous week, SLP tokens rallied, adding roughly 10% for the entire period. Most large tokens recovered to a higher range.
Weekly Lagger: WEMIX, +4.24 to $2.44. WEMIX works as a separate gaming ecosystem, moving on a different price logic.
The market cap of all P2E tokens recovered to $7.19B, erasing some of the losses from the past few weeks.
Decentraland (MANA) +9.89% to $0.93. MANA benefitted from the higher ETH price and overall market recovery.
The Sandbox (SAND) +15.19% to $1.36. SAND remains one of the strong performers as the game keeps adding partnerships and new NFT avatars. SAND also rallied in expectation of a Season 3 launch.
Axie Infinity Shards (AXS) +12.06%% to $15.52. AXS stablilized and kept some of the value held in the Axie Infinity game. The asset is awarded for land plot staking in the Lunacia metaverse.
Gala Games (GALA) +10.24% to $0.053, without significant change. The Gala Games model allows for a low-priced token, but peak gaming activity.
Ethereum (ETH) rallied this week, at one point above $1,600. ETH took the positive news of moving to proof-of-stake in September, and became a factor for a week of significant price action. Moving to staking is the first step in making Ethereum truly scalable. At the same time, competition from Solana, Avalanche and others continues to intensify as more games chose new L1 solutions for speed and lower fees.